Maximum deduction u/s 24(b) is 200,000. but my question is; in p.y. i have paid interest on h.p. of 250,000.
now in the current year can i Claim the balance 50,000 as deduction. please answer with links to proper verify your replies
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Deductions for house property us sec 24(b)
Replies (2)
Yes, you can set off the b/f loss against any (positive) income from HP ........ till next 8 years.
But not from any other head. Only current year loss from HP can be set off with other head_
I differ with Mr Dhiraj view, you can claim only Up to 2 lakhs as interest on borrowed capital if it's self occupied
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